The Financial Conduct Authority (FCA) in the UK is considering granting banks additional time to address customer complaints regarding fixed commissions on auto loans. This is part of a larger investigation into the issue, which has garnered significant attention within the financial sector.
Two important lawsuits involving Close Brothers Group Plc and FirstRand Ltd are currently being closely monitored by investors. Both lenders have expressed their intention to appeal after receiving unfavorable rulings in their respective cases last month. The outcomes of these legal challenges could have far-reaching implications for the auto loan market and regulatory practices in the UK.